The Australian Treasurer, Mr. Josh Frydenberg, on June 03, 2020 declared that the Australian economy is in recession. The cause of this recession is well-known to all of us - economic lockdown due to the COVID -19 pandemic rather than the usual cyclical fluctuations of the business cycle or a recession that is induced by the government. You have also learnt from Lecture 6 (Chapters 13 and 14) and Lecture 7 (Chapter 15) that a recession is characterised by unfavourable movements in the macroeconomic indicators - for example - total production and total employment are decreasing.

"Some economists, like, Former Treasury Secretary - Mr. Martin Parkinson - have argued that the Australia's economy was already weak before the coronavirus forced the economy into a lockdown. Productivity growth and income growth was very weak while economic growth was quite anaemic". Evaluate the statement and observation made by Josh and Martin by plotting the data on the major macroeconomic indicators of the Australian economy - GDP growth rates, Inflation and Unemployment - for the past 10 years.